Acadian Asset Management LLC Boosts Stock Holdings in Meritage Homes Co. (NYSE:MTH)

Acadian Asset Management LLC boosted its position in Meritage Homes Co. (NYSE:MTH) by 86.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,140 shares of the construction company’s stock after purchasing an additional 2,853 shares during the period. Acadian Asset Management LLC’s holdings in Meritage Homes were worth $992,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MTH. Norges Bank purchased a new position in Meritage Homes in the fourth quarter valued at approximately $76,297,000. Long Pond Capital LP purchased a new position in Meritage Homes in the first quarter valued at approximately $32,303,000. Swedbank AB purchased a new position in Meritage Homes in the first quarter valued at approximately $25,495,000. Mizuho Markets Americas LLC purchased a new position in Meritage Homes in the second quarter valued at approximately $22,887,000. Finally, Boston Partners purchased a new position in Meritage Homes in the first quarter valued at approximately $23,106,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Meritage Homes Trading Down 0.9 %

Meritage Homes stock opened at $201.72 on Tuesday. The stock has a market cap of $7.33 billion, a P/E ratio of 9.41 and a beta of 1.80. Meritage Homes Co. has a fifty-two week low of $109.23 and a fifty-two week high of $210.58. The firm’s fifty day moving average price is $189.29 and its 200-day moving average price is $174.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.93 and a current ratio of 1.93.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, July 24th. The construction company reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $1.14. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.02 earnings per share. Equities research analysts forecast that Meritage Homes Co. will post 21.09 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.75 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Meritage Homes’s dividend payout ratio is presently 13.99%.

Insider Activity at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the transaction, the chief financial officer now owns 44,570 shares of the company’s stock, valued at $9,136,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meritage Homes news, CEO Phillippe Lord sold 10,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the completion of the sale, the chief executive officer now directly owns 90,266 shares in the company, valued at $18,084,793.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Hilla Sferruzza sold 2,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the sale, the chief financial officer now owns 44,570 shares of the company’s stock, valued at $9,136,850. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $3,111,080 over the last 90 days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MTH has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on Meritage Homes from $195.00 to $210.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Raymond James increased their target price on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price on the stock in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.